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Feb 3, 2013
02/13
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FOXNEWS
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let's get to jack lew? >> maybe the most interesting job in early 2008 he takes the helm of alternative is investments that ran hedge funds and exotic balance vehicles. it was basically a unit if it wasn't the inspiration for the volcker rule that wanted to stop banks from gambling with taxpayer's money. >> paul: the defense of him would be he came on in 2008 and all the bad decisions had already been made. you can't blame jack lew for other bankers did? >> he is now setting himself up. he is now --. >> paul: is that a fair point in his defense? >> it is fair because a lot of bad bets were already made. whether they could have made some different decisions starting in early 2008, possibly, but i think the key issue for them, his job as secretary of treasury would basically be in charge of spotting risks in the financial marketplace. he is running something called the financial stability oversight council. this is deeming certain companies and identifying risks. was he able to identify any risks at citigroup
let's get to jack lew? >> maybe the most interesting job in early 2008 he takes the helm of alternative is investments that ran hedge funds and exotic balance vehicles. it was basically a unit if it wasn't the inspiration for the volcker rule that wanted to stop banks from gambling with taxpayer's money. >> paul: the defense of him would be he came on in 2008 and all the bad decisions had already been made. you can't blame jack lew for other bankers did? >> he is now setting...
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Feb 13, 2013
02/13
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FBC
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jack lew to be the next treasury secretary. he has talked about his bank account in the cayman islands, he has addressed this tenure at citigroup. rich@is following it very closely. rich will join us a little bit later on this hour. dagen: it is now time to make money with charles payne. charles: monster energy drinks. there are a lot of allegations. people are dying and hospitalized. it has had a serious impact. the margins were under a little bit of pressure. relatively great evaluation. acting great today. dagen: i have one thing, though, the fda increasingly looks very eager to regulate the energy drink business. if that happens, even years from now, what will the impact be? charles: it depends on what the impact and regulation will be. this stock goes significantly higher, i think it takes off. i am looking for a trade. it is at a downtrend. a close above 50 would be a bicycle. dagen: thank you. i am not saying how many energy drinks i have had in one day. connell: today, for example. dagen: not today. my most consumed in
jack lew to be the next treasury secretary. he has talked about his bank account in the cayman islands, he has addressed this tenure at citigroup. rich@is following it very closely. rich will join us a little bit later on this hour. dagen: it is now time to make money with charles payne. charles: monster energy drinks. there are a lot of allegations. people are dying and hospitalized. it has had a serious impact. the margins were under a little bit of pressure. relatively great evaluation....
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Feb 13, 2013
02/13
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but we expect jack lew will get through here. the questions and answers should be interesting in the meantime. >> later on this morning, we'll talk to mike mayo on the impact on banks, if in fact lew is confirmed. aym eamon, thanks a lot. >>> the president has spoken. now it's art cashin's turn. find out what he's expecting from today's trading as we count down to the opening bell. republican congresswoman marsha blackburn of tennessee gives her take on the state of the union address. take a look at the futures, get a sense of where we are this morning. we're not looking too bad. more "squawk on the street" from the nyse straight ahead. i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much wh
but we expect jack lew will get through here. the questions and answers should be interesting in the meantime. >> later on this morning, we'll talk to mike mayo on the impact on banks, if in fact lew is confirmed. aym eamon, thanks a lot. >>> the president has spoken. now it's art cashin's turn. find out what he's expecting from today's trading as we count down to the opening bell. republican congresswoman marsha blackburn of tennessee gives her take on the state of the union...
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Feb 16, 2013
02/13
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when we come back, jack lew's cayman island investment. president obama once called it a notorious tax scam and mitt romney paid a political price for his accounts there. but will jack lew? ♪ [ slap! ] [ slap! slap! slap! slap! ] ow! ow! [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium-rich tums starts working so fast you'll forget you had heartburn. ♪ tum tum tum tum tums >> jack lew, president obama's pick for treasury secretary faced questions on capitol hill this week about his tenure as a top executive at citigroup, the too big to fail bank that received a 45 million dollar taxpayer bailout. members of the finance committee pressed the former white house chief of staff about an almost 1 million dollar bonus he took home from citi in early 2005. as well as his investment in a venture capital fund registered in the cayman islands. >> why is the investment in the cayman islands? >> senator, i actually don't know why it was organized. i was not involved in setting up the fund. >> did you pay taxe
when we come back, jack lew's cayman island investment. president obama once called it a notorious tax scam and mitt romney paid a political price for his accounts there. but will jack lew? ♪ [ slap! ] [ slap! slap! slap! slap! ] ow! ow! [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium-rich tums starts working so fast you'll forget you had heartburn. ♪ tum tum tum tum tums >> jack lew, president obama's pick for treasury secretary faced questions...
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Feb 17, 2013
02/13
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FOXNEWSW
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but will jack lew? [ woman ] ring. ring. progresso. your soups are so awesomely delicious my husband and i can't stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. so we created the extraordinarily comfortable sleep number experience. a collection of innovations designed around a bed with dualair technology that allows you to adjust to the support your body needs - each of your bodies. our sleep professionals will help you find your sleep number setting. exclusively at a sleep number store. sleep number. comfort ... individualized. right now, queen mattresses start at just $599 . and save 50% on our limited edition bed-plus special offers through monday. >> jack lew, president obama's pick for treasury secretary faced questions on capitol hill this week about his tenure as a top executive at citigroup, the too big to fail bank that received a 45 million dollar taxpayer bailout. members of the finance comm
but will jack lew? [ woman ] ring. ring. progresso. your soups are so awesomely delicious my husband and i can't stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. so we created the extraordinarily comfortable sleep number experience. a collection of innovations designed around a bed with dualair technology that allows you to adjust to the support your body needs...
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Feb 27, 2013
02/13
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CSPAN2
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jack lew's budget plan. "new york daily news", "but the bottom line is that president obama is figuring on reducing the deficit by $1.1 trillion over ten years while his blue ribbon commission said cutting four times that amount is critically necessary." close quote. the title of that editorial was deficit of courage. president barack obama rolled out. this is another one, quote president obama rolled out a $3.7 trillion budget that promises $90 billion in reduced spending for fiscal year 2012 but it would still would you a whopping $1.1 trillion deficit. the best that can be said is that we started to frame a national debate, "said the" chicago tribune ." indianapolis star -- quote -- "obama has all but ignored the recommendations of his own deficit reduction commission." close quote. and in the headline of that editorial -- quote -- "we ignore the red menace at our peril." how about the los angeles times, a major western newspaper of liberal political views -- "president obama's budget for fiscal year 2012
jack lew's budget plan. "new york daily news", "but the bottom line is that president obama is figuring on reducing the deficit by $1.1 trillion over ten years while his blue ribbon commission said cutting four times that amount is critically necessary." close quote. the title of that editorial was deficit of courage. president barack obama rolled out. this is another one, quote president obama rolled out a $3.7 trillion budget that promises $90 billion in reduced spending...
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Feb 13, 2013
02/13
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CNBC
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can expect the committee will move jack lew. he'll soon be in office as the treasury secretary, maria. >> john harwood with the latest there. we've -- >> heading towards the close. >> heading to the close. 15 markets left. this market has been steady for the last hour or so with the decline of 55 point. >> the question is the individual investor back in this market. >> when we come back the ceo of put number investments will be joining us and are we heading for a correct of some kind? >> and we'll also hear from cisco ceo john chambers moments after the numbers are out and we'll speak with the analysts. [ laughs ] now this is a test drive. whoa! you really feel all 335 foot-pounds of torque. it's chevy truck month! silverado was also recognized for the lowest cost of ownership. hey, what are you gonna do with it? end table. oh. [ male announcer ] it's chevy truck month. now get 0% financing for 60 months, plus trade up to get $1,750 total allowance on a silverado all-star edition. or trade up and choose customer cash plus option
can expect the committee will move jack lew. he'll soon be in office as the treasury secretary, maria. >> john harwood with the latest there. we've -- >> heading towards the close. >> heading to the close. 15 markets left. this market has been steady for the last hour or so with the decline of 55 point. >> the question is the individual investor back in this market. >> when we come back the ceo of put number investments will be joining us and are we heading for a...
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Feb 13, 2013
02/13
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as for the chances jack lew has this is pretty good indication. senator orrin hatch the top republican on the senate finance committee mentioned that he thought that lew did very well today. back to you. ashley: we shall see. rich edson in d.c. thanks very much. tracy: our first guest says the concerns over jack lew's qualifications and personal investments in the caymans and yaw did i yada should pose no obstacle to his confirmation as treasury secretary. joining us, "wall street journal" washington bureau chief gerry seib. every time we do a confirmation hearing we nitpick and find all the things. if i put on the stand they would tell me my years of using aqua net hairspray would kill the ozone. >> the question you posed is it enough to stop the confirmation hearings? i don't think so. the questions about the cayman island investments jack lew made a few years ago is awkward. democrats talked about those schemes as tax scams. i don't think that is enough to stop the show. it is interesting when jack lew was nominated one of the arguments was he
as for the chances jack lew has this is pretty good indication. senator orrin hatch the top republican on the senate finance committee mentioned that he thought that lew did very well today. back to you. ashley: we shall see. rich edson in d.c. thanks very much. tracy: our first guest says the concerns over jack lew's qualifications and personal investments in the caymans and yaw did i yada should pose no obstacle to his confirmation as treasury secretary. joining us, "wall street...
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Feb 14, 2013
02/13
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KGO
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. >> reporter: his name is jack lew, a guy with one of the most sterling reputations in washington. >> mr. president, it's an honor to be here. >> reporter: as a loyal and low-key numbers crunching wonk, he has worked his way up to white house chief of staff and is the president's choice for treasury secretary. >> wall street dives more than 360 points. >> reporter: but a few years ago, as the american economy was melting down, jack lew was an executive at citigroup which sheila bair describes as the most toxic of all those troubled banks. >> they were the poster child in need of government aid. >> reporter: citigroup needed three government bailouts. over $460 billion in taxpayer dollars and loan guarantees just to survive. but at the same time, they still managed the pay lew a bonus of nearly $1 million. >> explain why it might be morally acceptable to take close the a million dollars out of a company that was functionally insolvent. >> senator, in 2008, i was an employee in the private sector. i was compensated in a manner consistent with other people who did the kind of work that
. >> reporter: his name is jack lew, a guy with one of the most sterling reputations in washington. >> mr. president, it's an honor to be here. >> reporter: as a loyal and low-key numbers crunching wonk, he has worked his way up to white house chief of staff and is the president's choice for treasury secretary. >> wall street dives more than 360 points. >> reporter: but a few years ago, as the american economy was melting down, jack lew was an executive at...
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Feb 26, 2013
02/13
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and i don't know jack lew. i've met with him a couple of times, of course. but i had no idea that he had this background. so, you know, i would think he would be forthcoming on the questions and apparently he was not. i think the president should have leeway. i think he should have the people he wants. >> sure. >> but i just am disappointed, i guess, that in this job we don't have somebody who can really do something about the economy. somebody who has ideas. >> steve, god bless him, if he wants to make a million bucks, makes five million bucks, i don't have a problem with that. what i have a problem with, and i'm reading from the editorial, that citigroup gave him a guaranteed bonus, if he left the bank for higher level positions in the u.s. government. not the red cross. not some non-profit group. so clearly, as people knew he was going to take a big position with obama, they gave him this -- this kind of stuff shouldn't be going on. >> i'm going to sound a little bit like kudlow. free markets, free markets. >> right. this is crony capitalism. >> nobody ma
and i don't know jack lew. i've met with him a couple of times, of course. but i had no idea that he had this background. so, you know, i would think he would be forthcoming on the questions and apparently he was not. i think the president should have leeway. i think he should have the people he wants. >> sure. >> but i just am disappointed, i guess, that in this job we don't have somebody who can really do something about the economy. somebody who has ideas. >> steve, god...
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Feb 15, 2013
02/13
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unfortunately, jack lew is being hoisted on barack obama's class warfare pi tard. we'll talk about that a little later in the show. please stay with us. s. all right that's a fifth-floor probleok.. not in my house! ha ha ha! ha ha ha! no no no! not today! ha ha ha! ha ha ha! jimmy how happy are folks who save hundreds of dollars switching to geico? happier than dikembe mutumbo blocking a shot. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> it looks like the cruise from hell is about to end for the 4,200 people aboard the carnival "triumph." it should make land in a few more hours but this will not be the end of the story for the company. we have a live report on this still developing story in just a few minutes. please stay with us. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero he
unfortunately, jack lew is being hoisted on barack obama's class warfare pi tard. we'll talk about that a little later in the show. please stay with us. s. all right that's a fifth-floor probleok.. not in my house! ha ha ha! ha ha ha! no no no! not today! ha ha ha! ha ha ha! jimmy how happy are folks who save hundreds of dollars switching to geico? happier than dikembe mutumbo blocking a shot. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> it looks...
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Feb 13, 2013
02/13
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WJLA
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. >> treasury secretary nominee jack lew finds himself in th >> welcome back. live pictures inside the vatican. pope benedict xvi making his first public appearance since announcing his resignation. he will take the podium shortly. thousands of people expected to fill the vatican hall. this will be his second live appearance until he steps down due to health concerns. he's been living with a pacemaker scant recently had surgery to have the battery replaced. he's sitting in the white share in the center of the stage. when he steps down, he will live in a monastery near the vatican and will have no duties related to the church. >> looking at our top stories the investigators searching for the gunman behind a deadly shooting in fort washington. one person was shot and killed late tuesday night on rose marie drive. they have not identified the victim. the massive manhunt for a former los angeles police officers suspected of killing four people may not be over. authorities say that star and human remains were found in a burned out mountain cabin where christopher do
. >> treasury secretary nominee jack lew finds himself in th >> welcome back. live pictures inside the vatican. pope benedict xvi making his first public appearance since announcing his resignation. he will take the podium shortly. thousands of people expected to fill the vatican hall. this will be his second live appearance until he steps down due to health concerns. he's been living with a pacemaker scant recently had surgery to have the battery replaced. he's sitting in the white...
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Feb 13, 2013
02/13
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we've gotten experts from jack lew's prepared remarks. he talks about working across the aisle, gorging bipartisan consensus is not an abstract idea for me the fundamental thread that spans my professional life. he touches on his political background one area lawmakers want to know in terms of jack lew, what he did when he was at citi. the only reference to citi, during my time at citi, i was part of the senior management plan to bring organizational change and one of the remarks is a hot button issues we're sure to hear about today, lew's own personal investment in the cayman islands, and something the president criticized in the past and lew had such an investment in such a fund and lawmakers will ask him about it. he doesn't say anything in these prepared remarks and be prepared, lew should be for that issue. >> thank you for that. we are joined by a senator who will be questioning jack lew, charles grassley. also, president obama's state of the union. it's a little different this time around, senator. no one is saying jack lew broke t
we've gotten experts from jack lew's prepared remarks. he talks about working across the aisle, gorging bipartisan consensus is not an abstract idea for me the fundamental thread that spans my professional life. he touches on his political background one area lawmakers want to know in terms of jack lew, what he did when he was at citi. the only reference to citi, during my time at citi, i was part of the senior management plan to bring organizational change and one of the remarks is a hot...
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Feb 14, 2013
02/13
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lou: quite a statement from jack lew. let alone economists will be going through that one for awhole. the president renewing his calls for immigration reform during the state of the union address. the department of homeland security today add mything, however, it has not kept track of illegal immigrants dependent on welfare after beginning entry. dhs was responding to an august request from four republican senators, and they admitted they initiated -- they being dhs, initiated one case against an illegal imgrant on welfare last year, but it was later dropped making it 11 years without pursuing a case. there was a letter released on immigration reform today. fox news correspondent has our report, doug? >> that's right, lou. today's hearing on immigration reform was the first such comprehensive hearing since a bipartisan group of senators for republicans and for democrats reported progress in crafting comprehensive immigration reform. that package is gaining broad support and not a moment too soon. there was an earlful from
lou: quite a statement from jack lew. let alone economists will be going through that one for awhole. the president renewing his calls for immigration reform during the state of the union address. the department of homeland security today add mything, however, it has not kept track of illegal immigrants dependent on welfare after beginning entry. dhs was responding to an august request from four republican senators, and they admitted they initiated -- they being dhs, initiated one case against...
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Feb 14, 2013
02/13
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we'll get to jack lew's confirmation in a moment. first the cbo director douglas elmendorf testimony. he warned of the sequester could cost 750,000 jobs. >> could you tell me in terms of the negative economic impact of the sequester, the .6%, what does that translate in point of lost jobs? >> our estimate is that the sequester alone would reduce gdp growth this year by zero point six percentage points. it would lower that gdp at the end of the year. we think that would reduce by about 750,000 jobs. >> 750,000 jobs between now and the end of 2013, right? >> right. >> that is a whole lot of jobs. we should be working overtime to prevent that kind of job loss. if you were to replace the deficit reduction through that austerity program, the cuts to the sequester with a plan that accomplishes the same amount of deficit reduction spread over the 10 year period, you would not have that hit on jobs? >> right. >> our analysis, the republican leader, mr. cantor had it right last september when he said that if we allowed the sequester to take p
we'll get to jack lew's confirmation in a moment. first the cbo director douglas elmendorf testimony. he warned of the sequester could cost 750,000 jobs. >> could you tell me in terms of the negative economic impact of the sequester, the .6%, what does that translate in point of lost jobs? >> our estimate is that the sequester alone would reduce gdp growth this year by zero point six percentage points. it would lower that gdp at the end of the year. we think that would reduce by...
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Feb 13, 2013
02/13
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. >>> plus jack lew, the president's nominee to lead the treasury was in the hot seat today facing a grilling from the senate from everything from his role at citibank and yes, his investments in the cayman islands. we're live on capitol hill. stay with us. ♪ . she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical he
. >>> plus jack lew, the president's nominee to lead the treasury was in the hot seat today facing a grilling from the senate from everything from his role at citibank and yes, his investments in the cayman islands. we're live on capitol hill. stay with us. ♪ . she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's...
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Feb 27, 2013
02/13
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i've known jack lew for 26 years. i have served with him on common issues and i just want to bring to the attention of my colleagues some of the things that he has done. he first served in the house of representatives as a staff person. he served as a staff person for the speaker of the house tip o'neill. in that capacity, one of the responsibilities that he had was to be the liaison to the commission that was working on social security reform when president reagan was president of the united states. i mention that because i think we all point to that time when a democratic-controlled congress and a republican administration was able to deal with one of the most difficult challenges of the time: the solvency of social security. and they were able to come together with a bipartisan product. jack lew's finger prints were involved in that transaction. he was able to bring us together. well mr. president we need that type of person as the secretary of the treasury today a person who will bring together our nation with the
i've known jack lew for 26 years. i have served with him on common issues and i just want to bring to the attention of my colleagues some of the things that he has done. he first served in the house of representatives as a staff person. he served as a staff person for the speaker of the house tip o'neill. in that capacity, one of the responsibilities that he had was to be the liaison to the commission that was working on social security reform when president reagan was president of the united...
WHUT (Howard University Television)
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Feb 14, 2013
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WHUT
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but i was not designing them and i was not planning on the maker of jack lew served as obama's chief of staff before being nominated for the post of treasury secretary. the senate intelligence committee has announced it is selling a vote on whether to confirm john brennan as cia director as it waits for more information on the drone program he has orchestrated. on wednesday, a committee chaired i am feinstein reiterated a demand to see all nine classified justice or memos on the supposed legal basis for targeted killings of u.s. citizens. two memos were released in the committee last week. lawmakers have also floated the idea of creating a special court to review strikes on u.s. citizens. south african nobel peace prize winner archbishop desmond tutu weighed in on the plan in a letter to the new york times writing -- meanwhile in new york, nine people were arrested wednesday after blocking the gate of a base where drones are operated remotely. the protesters held signs condemning the killings of children and other civilians as they stood in front of the entrance to hancock field air
but i was not designing them and i was not planning on the maker of jack lew served as obama's chief of staff before being nominated for the post of treasury secretary. the senate intelligence committee has announced it is selling a vote on whether to confirm john brennan as cia director as it waits for more information on the drone program he has orchestrated. on wednesday, a committee chaired i am feinstein reiterated a demand to see all nine classified justice or memos on the supposed legal...
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Feb 26, 2013
02/13
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KICU
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if confirmed, jack lew replaces tim geithner. italy's elections for prime minister contributed to market moves in the u.s. the stock market was shaken by yesterday's news from italy that italian democratic leader pier luigi bersani shot ahead in exit polls. bersani's party opposes austerity measures, which brought fear back into the minds of u.s. investors, many concerned that italy's current debt load poses a threat to the eurozone and global economy. bersani is the secretary of the democratic party of italy. italy's outgoing prime minister, mario monti, accounted for just around 10% of the vote. "bp was blinded by greed" and the castrophe was preventable. that's what attorneys figthing against the company had to say opening their remarks in the bp trial. bp attorneys contend multiple parties are responsible. the oil giant is on trial for thde explosion in the gulf of mexico back on april of 2010. 11 workers were killed and oil gushed into into the ocean for 3 months. behind the scenes, the department of jusitice reportedly has
if confirmed, jack lew replaces tim geithner. italy's elections for prime minister contributed to market moves in the u.s. the stock market was shaken by yesterday's news from italy that italian democratic leader pier luigi bersani shot ahead in exit polls. bersani's party opposes austerity measures, which brought fear back into the minds of u.s. investors, many concerned that italy's current debt load poses a threat to the eurozone and global economy. bersani is the secretary of the democratic...
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james freeman of the "wall street journal" has answers about jack lew's past that may surprise you. liz: up next, find out what lawmakers are doing to force the president to submit a balanced budget, something the president has not done yet. david: later this hour, the amazing crest returns. last week, we had sealed boxes with the super bowl predictions. the winner and the final score are in those boxes. we have the sealed boxes back with us today. we will open them at the end of the show. you don't want to miss this. ♪ [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ from td ameritrade. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting tod
james freeman of the "wall street journal" has answers about jack lew's past that may surprise you. liz: up next, find out what lawmakers are doing to force the president to submit a balanced budget, something the president has not done yet. david: later this hour, the amazing crest returns. last week, we had sealed boxes with the super bowl predictions. the winner and the final score are in those boxes. we have the sealed boxes back with us today. we will open them at the end of the...
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Feb 27, 2013
02/13
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KICU
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jack lew is president obama's pick to replace treasury secretary tim geithner. the vote by the senate finance committee came down to 19 for and 5 against the nominee. more witnesses will be called to the stand this week to testify in the civil trial against bp. yesterday a key witness testified that bp was focused on cost-cutting, which sacrificed safety, ahead of the deepwater horizon explosion that killed 11 people 3 years ago. it is the first phase of the trial, in which the plantiff will attempt to prove the severity of bp's negligence leading up to the massive oil spill. the plantiffs are expected to call the chairman and president of bp america to the stand next. a $1-billion cost-cutting plan is underway at jpmorgan chase. the bank is eliminating 4,000 jobs this year in consumer banking, mostly through attrition. eventually, 19,000 jobs will be cut from its home loan business. the firm no longer needs as many people to handle defaults, which are dwindling. meanwhile, 15,000 people will be hired in asset management and commercial banking units. meanwhile,
jack lew is president obama's pick to replace treasury secretary tim geithner. the vote by the senate finance committee came down to 19 for and 5 against the nominee. more witnesses will be called to the stand this week to testify in the civil trial against bp. yesterday a key witness testified that bp was focused on cost-cutting, which sacrificed safety, ahead of the deepwater horizon explosion that killed 11 people 3 years ago. it is the first phase of the trial, in which the plantiff will...
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Feb 14, 2013
02/13
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and now jack lew is outlining what he sees ahead for the economy. ai uchida joins us now from the business desk. ai, good morning. >> good morning, catherine. jack lew, he has to win over the democrats and the republicans before he can be treasury secretary. so he's asking lawmakers for bipartisan support on fiscal reform. he says this is needed to keep the u.s. economy on the path to recovery. lew spoke to senators on wednesday. he's seeking their approval for his appointment to obama's second-term cabinet. lew said he's resolved to reduce the nation's huge budget deficit. he asked both democrats and republicans to work together to avoid automatic spending cut march on defense and other programs. >> we must put our nation back on a path of fiscal sustainability. we cannot allow the series of harmful automatic spending cuts known as the sequester to go into effect. these cuts would impose self-inflicted wounds to the recovery and will put far too many jobs and businesses at risk. >> lew also responded to concerns the yen's rapid decline might encour
and now jack lew is outlining what he sees ahead for the economy. ai uchida joins us now from the business desk. ai, good morning. >> good morning, catherine. jack lew, he has to win over the democrats and the republicans before he can be treasury secretary. so he's asking lawmakers for bipartisan support on fiscal reform. he says this is needed to keep the u.s. economy on the path to recovery. lew spoke to senators on wednesday. he's seeking their approval for his appointment to obama's...
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Feb 13, 2013
02/13
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jack lew had to answer questions about his personal finances. as he tries to nail down the job of treasury secretary. he was also grilled today about what happened the night of the benghazi terror attack. "state of the union" address, president calling for infrastructure and education. marco rubio gave the president response and said the president is obsessed with tax increases. "special report" from washington starts at 6:00 eastern now. back to new york and "the five." ♪ ♪ >> andrea: tomorrow is valentine's day. tricky holiday. some love it, some hate it. hard to find the perfect thing to do. i asked folks in new york city about their dos and don'ts for valentine's day. >> be in touch with their significant other. you know, know their likes and dislikes. >> don't be late to dinner. >> do not not send something. >> don't ignore your wife. >> happy wife, happy life. >> go out with the boys. >> don't do what you think is right. do what she thinks is right. >> do you like valentine's day? >> i love valentine's day. >> what should a guy never d
jack lew had to answer questions about his personal finances. as he tries to nail down the job of treasury secretary. he was also grilled today about what happened the night of the benghazi terror attack. "state of the union" address, president calling for infrastructure and education. marco rubio gave the president response and said the president is obsessed with tax increases. "special report" from washington starts at 6:00 eastern now. back to new york and "the...
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Feb 26, 2013
02/13
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bill: what about jack lew now. what's the rub there. >> reporter: the senate finance committee will vote on him today, probably in about a half hour or some he has been a bit controversial. he has been essentially at the right hand of president obama since the beginning. he was the president's budget director. he was also the president's chief of staff. he got a variety of questions on subjects related to those two posts. some republicans are expected to report jack lew. he is expected to be passed out of the senate finance committee and the united states senate will consider his nomination to be the next treasury secretary. bill: busy day for you, mike. mike emanuel live on the hill. details when they come here. martha? martha: more on hagel. more background information on the secretary of defense nominee. hagel served in the u.s. senate from 1997 to 2009. he sat on the senate foreign relations committee there. before that he served as an investment banking firm based in omaha, nebraska. he is also a vietnam war v
bill: what about jack lew now. what's the rub there. >> reporter: the senate finance committee will vote on him today, probably in about a half hour or some he has been a bit controversial. he has been essentially at the right hand of president obama since the beginning. he was the president's budget director. he was also the president's chief of staff. he got a variety of questions on subjects related to those two posts. some republicans are expected to report jack lew. he is expected to...
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Feb 4, 2013
02/13
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a man who once worked for citigroup, jack lew, the president's chief of staff, has been picked to be the new treasury secretary. and mary jo white, the newly named head of the securities and exchange commission, is a chief litigator at a top law firm representing big investment banks like morgan stanley. with all this happening, it's time to talk with journalist matt taibbi. you've seen him on our broadcast before. a contributing editor at "rolling stone," he's been tracking the high crimes and misdemeanors of wall street and washington for years. welcome back to the show. >> thanks for having me. >> you're working on a story right now that'll come out in a couple of weeks on the hsbc settlement. tell me about that, why it interests you. >> well, the hsbc settlement was a really shocking kind of new low in the history of the too big to fail issue. hsbc was a serial offender on the money laundering score. they had been twice given formal cease and desist orders by the government. one dating back as far as 2003, another one in 2010 for inadequately policing the accounts in their system
a man who once worked for citigroup, jack lew, the president's chief of staff, has been picked to be the new treasury secretary. and mary jo white, the newly named head of the securities and exchange commission, is a chief litigator at a top law firm representing big investment banks like morgan stanley. with all this happening, it's time to talk with journalist matt taibbi. you've seen him on our broadcast before. a contributing editor at "rolling stone," he's been tracking the high...
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Feb 13, 2013
02/13
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in terms of comments, 2011, jack lew made this statement. it is an accurate statement that our current spending will the no be increasing the debt. we stopped spending money that we don't have and yet here we are several years later and a trillion dollar deficits continue, bill. bill: the republicans believe that jack lou lied under oath? are they making that claim, mike? >> reporter: at the very least republicans believe he was selling white house spin when he was testifying before the senate budget committee of. the top republican on the budget committee, jeff sessions says he goes further than that. he sent a letter and he writes it was a key moment in a deliberate art -- art ve that thet that lead the president's budget put us on a sustainable fiscal path when it was no where close. the president's budget over ten years lays out a plan would essentially build $13 trillion in debt. jeff sessions says he believes jack lew is deliberately lying, expect some fireworks in that hearing moments from now. bill: we shall. headlines momentarily. t
in terms of comments, 2011, jack lew made this statement. it is an accurate statement that our current spending will the no be increasing the debt. we stopped spending money that we don't have and yet here we are several years later and a trillion dollar deficits continue, bill. bill: the republicans believe that jack lou lied under oath? are they making that claim, mike? >> reporter: at the very least republicans believe he was selling white house spin when he was testifying before the...
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Feb 13, 2013
02/13
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so, what's the point of hiring somebody like jack lew. i'm sure he has a lot of abilities, acumen on balancing the budget sheets and these things. that's fine, but they have a lot of-- the reason you hire people like jack lew is for entree into washington and help getting things done in a highly regulated industry and could you argue he earned every penny. >> megyn: the wall street journal asking the question did mr. lew feel guilty the check from the taims and president obama the champion of the middle class and this guy got a million dollars of money for a company who needed our bailout. issue number two, his investments in the cayman islands. they're perfectly legal, right? no one is challenging that these are illegal in any way, a question whether our treasury secretary should be dodging or a loophole out of paying the top rate in taxes. just for context, chris, before we go to what mr. lew did and how he had money in the kaymans, here is a calook at the campaign. >> and this is a man who says that president barack obama is out of tou
so, what's the point of hiring somebody like jack lew. i'm sure he has a lot of abilities, acumen on balancing the budget sheets and these things. that's fine, but they have a lot of-- the reason you hire people like jack lew is for entree into washington and help getting things done in a highly regulated industry and could you argue he earned every penny. >> megyn: the wall street journal asking the question did mr. lew feel guilty the check from the taims and president obama the...
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Feb 23, 2013
02/13
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if the president and jack lew came up with a really dumb idea and the republicans thought, gee, that's a really good idea we're going to join your dumb idea and everyone else is supposed to suffer, go figure. >> well, what's the deal on august 11th and we didn't go over the fiscal cliff, greta and have the debt ceiling expire and everyone thought the super committee would get it worked out and the president handled that in the third debate he picked it and doesn't get it done. >> governor, it failed in november of 2011 and what did everybody do between 2011 and now, nothing. the president played golf and congress went on recess, everyone took, everyone took this time. pay the piper on this. they went to work and nothing to stop them after the super committee failed to actually get down to work and instead they did. and we're sad they campaigned to get their jobs back. >> you're exactly right. look, it takes leadership and it starts at the top. the president is the commander-in-chief and his own secretary of defense says the cuts will be devastating. the united states military and natio
if the president and jack lew came up with a really dumb idea and the republicans thought, gee, that's a really good idea we're going to join your dumb idea and everyone else is supposed to suffer, go figure. >> well, what's the deal on august 11th and we didn't go over the fiscal cliff, greta and have the debt ceiling expire and everyone thought the super committee would get it worked out and the president handled that in the third debate he picked it and doesn't get it done. >>...